Hydraulic Hose Market By Product Type (Spiral Wire Hydraulic Hose, Wire Braided Hydraulic Hose, Others) By Application (Engineering Machinery, Mining Industry, Industrial, Others) and Region - Global Forecast to 2026

The Global Hydraulic Hose Market Report Overview:

“The global Global Hydraulic Hose Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The Global Hydraulic Hose Market report offers in-depth insights, revenue details, and other vital information regarding the global hydraulic hose market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

The report also offers insightful and detailed information regarding the various key players operating in the global hydraulic hose market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global hydraulic hose market is segmented on the basis of type, application, and region.

Hydraulic hoses are especially designed to transport hydraulic fluid to or among hydraulic components, valves, actuators, and tools. Hoses are mostly flexible, but are often reinforced with several layers, since hydraulic systems frequently operate at high or very high pressures, and are used in machinery and equipment for lifting/hoisting, compressing, shearing, extending, molding etc.

Global Hydraulic Hose Market Dynamics:

Major factor driving growth of the hydraulic hose market is increasing demand from various end use industries such as construction, mining, etc. In addition, growing demand for hydraulic hose in heavy duty construction equipment, trucks, etc. that require high power, greater flexibility, and stronger bends is expected to further support growth of the global hydraulic hose market.

Moreover, increasing use of hydraulic hose in agriculture sector, for machinery such as harvester, tractors, transport vehicles, and other machineries is further expected to fuel growth of the global hydraulic hose market.

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• Market forecasts
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• Market opportunities
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However, stringent environmental regulations on manufacturing of hydraulic rubber hose is a major factor restraining growth of the global hydraulic hose market to certain extent.

Technological advancements and increasing R&D activities by manufactures and penetration of the major manufacturers of hydraulic hose in developing economies to expand their geographic presence are other factors expected to drive growth of the global market over the forecast period.

Market analysis by type:

On the basis of type segmentation, wire braided hydraulic hose segment is expected to contribute major revenue share and is expected to maintain its dominance over the forecast period. The spiral wire hydraulic hose segment is expected to register highest CAGR of over 5.0%, owing increasing demand for hydraulic hoses with four to six wire spiral braids in high pressure applications such as mining, heavy construction equipment, trucks, and farm machinery.

Market analysis by application:

On the basis of application segmentation, engineering machinery segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period. The engineering machinery segment registers highest CAGR over 5.0%, owing growing demand for earth moving and construction equipment for new construction and development projects, especially in countries in Europe and Asia Pacific. According to Ministry of Commerce & Industry, India, in April 2018, the total number of current Public Private Partnership (PPP) projects in India was 1,529, of which 740 were related to roads.

Analysis by Region:

The market in North America accounted for significant revenue share of over 20% in the global hydraulic hose market in 2016. This can be attributed to increasing construction activities in cities such as Portland, Denver, Sacramento, and Atlanta etc. owing to large-scale construction, reconstruction, and redevelopment projects by the government is expected to boost demand for construction equipment.

According to the Portland State Real Estate Quarterly, roughly 5,000 new residential units have been built since 2010, and 3,000 residential units in 18 projects are under construction.

The market in Europe accounts for significant share in the global hydraulic hose market. Demand for hydraulic hose is expected to increase in Europe region, owing to its use in various machinery and equipment used in agriculture, forestry, and the manufacturing sector, as well as in marine, mining, and tunnel boring.

In order to cater to the rapidly growing demand for hydraulic hoses from various end use industries, manufacturers are focusing on increasing production capacity, which in turn is expected to fuel growth of the market in region.

In January 2017 for instance, The Semperit Group invested US$ 23.4 Mn in the expansion of Semperflex Optimit production facility in Odry, the Czech Republic, and following this investment, production capacity of hydraulic hose will increase by 30%. Moreover, presence of major players in countries in this region is another factor further propelling growth of the Europe hydraulic hose market.

The Asia Pacific market accounts for highest revenue share in the global hydraulic hose market. The Asia Pacific hydraulic hose market is expected to register highest CAGR of over 5% during the forecast period. Rapid development and increasing investment in construction sector are major factors driving growth of the Asia Pacific hydraulic hose market.

According to Research Institute of Construction and Economy, Japan’s construction investment in 2016 was around US$ 476.5 Mn, which includes US$ 191.5 Mn from government and US$ 285.0 Mn from the private sector. Moreover, construction investment in 2017 is expected to rise by 1.2% from 2016.

Increasing government initiatives and expenditure into affordable housing schemes, coupled with rising private investments into development of new high-end construction projects are other factors driving growth of the South America to a significant extent currently.

South Africa is a major producer of a range of minerals, including gold, coal, platinum, palladium, manganese, titanium, and uranium, and mining activities in the country is expected to boost growth of the Middle East & Africa hydraulic hose market over the forecast period.

Moreover, favorable regulations for Foreign Direct Investment (FDI) in countries in this region, and increasing presence of international manufacturers is expected to offer lucrative opportunities for major players in the Middle East & Africa hydraulic hose market to expand their presence and revenue share.

Global Hydraulic Hose Market segmentation:

Segmentation on the basis of product type:

• Spiral Wire Hydraulic Hose
• Wire Braided Hydraulic Hose
• Others

Segmentation on the basis of application:

• Engineering Machinery
• Mining Industry
• Industrial
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa